St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-01
THIRD NATIONAL BANK,
Cor. Third and Robert SITS.
CAPITAL, 100000.
WALT Err MANN, RICHARD E. SLOWER,
President. Cashier.
FINANCIAL.
New York.

NEW YORK, Aug. 31.-Money on call more
active at 46l7 per cent, last loan z, closed at
6 bid Prime mercantile paper, 709 Ster.
ling exchange dull at 81. S0A for slxty-day
bills and 81 3s4 for demand. Wall street
was treated to a couple of genuine surprises
to-day, and as the effect of these was to en-
nance the value Of certain stocks very mate
rally, as well as to put a new face upon the
speculative situation, the temper of the mar
ket underwent a sudden and violent change
for the better. Early in the day it was Off
cially announced that the Baltimore d Ohio
express had been sold to the United States
Express company. The latter company's
stock jumped 9l2 per cent. from yesterdays
price, and the street jumped to the conclu-
sion that the other Baltimore IL Ohio prop
critics were also disposed of. A great
rush to cover followed, and with the
more confident buying by the bulls, prices
shot up rapidly. The announcement fol-
lowed that Oregon Transcontinental, by dis
posing of some of its treasury securities, had
settled its debt and placed itself upon a firm
basis. Oregon Navigation responded with
jump of per cent. and the general list SYM
pathized. A check was given to the advance
by a renewal of the selling in Manhattan and
its price touched lower figures than had vet
been attained, and though it rallied later,
stands alone this evening in showing a net
decline. The market recovered from this
shock, however, and the feeling this evening
is more confident than for many weeks In
w
ern Union were most conspicuous, but the
entire list was very strong and active through
out. The opening was active, but irregular
and the same tactics that had been pursued
yesterday caused a fractional decline in the
early dealings. The change came quickly,
however, and with an extremely active
trading prices shot up from to 25s per cent
in half an hour, the Oregon stocks being
most prominent Before noon these were
joined by Western Union and the Northern
Pacific, and further progress was made to-
ward higher figures. After that time a mod
crate reaction occurred and the market
Quoted down, Manhattan being the cause of
the change, but in the last hour the bulls
again came to the front, and the close was
active and strong at or near the best figures
of the day. Manhattan is down la, but
everything else is materially higher, the
principal advances being Oregon Navigation.
5s4; Northern Pacific preferred, 27s; Jersey
and Lake Erie. Oregon Transcontinental and
Erie preferred pa Lake Erie & Western
preferred Louisville d Nashville and Union
Pacific, 2ls, and Lake Shore. 2.
Railroad bonds were slightly more active
and while heavy to weak in the morning
afterward participated in the general adj.
vance, and q majority Of issues show net
gain for the day. Sales, 100000. Govern
ment bonds were dull and steady; state bonds
were dull and featureless. The total sales of
stocks to-day were 1852 shares, in
Guiding:
Lack. & West. &c, 050IN orthern Pac 1900
Erie lis, 900 North. Pac. pfd 9,715
Kansas d Tex. $500 Oregon Trans. "a ,675
Lake Shore. ID, 235 Reading. 81 900
Louis. d Nash. IL 65OISt Paul As OI2
Missouri Pac.. 9,060ISt d Omaha $500
Northwestern. 13, S50iTeXa Pacific. $3.50
n Jersey Gen.. 6,115 Union Pacific. 10 ITO
New York Cen $3.50 West'n Union. IS, 679